NOVATEK acquires regional gas distributor

Moscow, 28 December 2012. OAO NOVATEK (“NOVATEK” and/or
the “Company”) announced today the acquisition of an 82% participation
interest in the share capital of OOO Gazprom Mezhregiongas Kostroma
(“Gazprom Mezhregiongas Kostroma”) for a total consideration of RR 554
million. Gazprom Mezhregiongas Kostroma supplies natural gas to a wide
range of consumers in the Kostroma Region (the “Region”).

In the first nine months of 2012, Gazprom Mezhregiongas Kostroma
supplied 2.7 billion cubic meters (bcm) of natural gas to the Region.
During the same period, NOVATEK supplied 0.461 bcm to the Region.

According to NOVATEK’s Chairman of the Management Board, Leonid V.
Mikhelson, “The acquisition of Gazprom Mezhregiongas Kostroma is another
step in the implementation of the Company’s marketing strategy,
providing for the expansion into strategic regions as well as increasing
the share of end-customers in our total natural gas sales volumes mix”.

OAO NOVATEK is Russia’s largest independent gas producer and the
second-largest natural gas producer in Russia. Founded in 1994, the
Company is engaged in the exploration, production, processing and
marketing of natural gas and liquid hydrocarbons. The Company’s upstream
activities are concentrated in the prolific Yamal-Nenets Autonomous
Region, which is the world’s largest natural gas producing area and
accounts for approximately 84% of Russia’s natural gas production and
approximately 17% of the world’s gas production. NOVATEK is an open
joint stock company established under the laws of the Russian
Federation. The Company’s shares are listed in Russia on MICEX-RTS Stock
Exchange and the London Stock Exchange (LSE) under the ticker symbol
“NVTK”.